June 3, 2015 / 11:45 AM / 2 years ago

CANADA STOCKS-Futures rise ahead of ECB meeting

June 3 (Reuters) - Stock futures pointed to a higher start for Canada’s main stock index on Wednesday, taking positive cues from the European markets ahead of the European Central Bank’s policy meeting.

The ECB will publish new forecasts that are expected to bolster signs that inflation is back on the rise. Focus will also be on its view on Greece and the sell-off in debt markets, which is neutralizing its bond-buying scheme.

June futures on the S&P TSX index were up 0.15 percent at 7:25 a.m. ET.

Statistics Canada is due to report trade balance data for April at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index rose on Tuesday as higher commodity prices helped many energy producers and mining companies.

Dow Jones Industrial Average e-mini futures were up 0.37 percent at 7:25 a.m. ET, while S&P 500 e-mini futures were up 0.40 percent and Nasdaq 100 e-mini futures were up 0.51 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

TMX Group Ltd, the operator of Canada’s biggest stock exchange, is looking to hire a sales chief as part of a reorganization initiated by recently hired Chief Executive Lou Eccleston.

Canada’s Come By Chance refinery, located on the eastern island of Newfoundland, has bought Nigerian oil for the first time in at least a decade, the latest addition to the facility’s diverse crude slate, according to Reuters customs data.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,189.50; -0.39 pct

US crude : $59.97; -2.11 pct

Brent crude : $64.04; -2.21 pct

LME 3-month copper : $6,011.50; -0.47 pct

ANALYST RESEARCH HIGHLIGHTS

Air Canada : BMO raises price target to C$18 from C$16

RBC : National Bank Financial raises target price to C$83 from C$82

Wilan Inc : Paradigm Capital raises rating to “buy” from “hold”, target price to C$5 from C$3

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 International trade mm for Apr: Expected -$44.0 bln; Prior -$51.4 bln

0945 Markit comp final PMI for May: Prior 56.1

0945 Markit services PMI final for May: Prior 56.4

1000 ISM N-Manufacturing PMI for May: Expected 57.0; Prior 57.8

1000 ISM N-Manufacturing bus act for May: Expected 60.5; Prior 61.6

1000 ISM N-Manufacturing Employment Index for May: Prior 56.7

1000 ISM N-Manufacturing New Orders Index for May: Prior 59.2

1000 ISM N-Manufacturing Price Paid Index for May: Prior 50.1

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.24) (Reporting by Nikhil Kumar in Bengaluru; Editing by Kirti Pandey)

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